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Owners
History
2023: Canara Bank sells its stake in the bank to State Bank of India
Indian Canara Bank in January 2023 announced the sale of a stake in Moscow Indo Bank for $14.67 million to the State Bank of India (SBI). Thus, the entire bank was valued at $36.9 million or 2.8 billion rubles.
2004: State Bank of India and Canara Bank set up Indo Bank
Commercial Indo Bank LLC was established as a joint venture of the State Bank of India and Canara Bank and began functioning on February 2, 2004 on the basis of a license issued by the Central Bank of the Russian Federation number 3446.
The authorized capital of the Bank is $36.67 million. USA, of which 60% are investments of the State Bank of India, and 40% - Kanara Bank (both banks occupy leading positions in the banking system of India - 1 and 4 places, respectively). The bank specializes in the provision of the following services: deposits, currency exchange and money transfers, SBI EXPRESS - money transfers in rupees directly to India, tariffs, lending and bank guarantees, Internet banking.
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